7401 S Broadway, Saint Louis, MO 63111

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BEDS0 BATHS MLS#22052300

Property Description

Investment opportunities like this seem to be rare in the current market: turn-key (truly), attractive ROI, and good property management. There are 9 buildings in this 36-unit package: 13 one bed units, 16 two bed units, 3 three bed units, and 4 commercial spaces. All are located within a ¼ mile radius of one another in the Carondelet area and all underwent major renovations about 12 years ago (roof, plumbing, electrical, kitchens, baths, etc.). Due to their condition, amenities, and layouts, these properties easily stay rented - currently fully occupied except for 1 apt for showings. With current financials, this portfolio offers a nice return on investment at 5.5+% cap rate. The good news is that current rents are averaging around 5% below market rate creating an opportunity for additional income generation (and this is using conservative rent increases so perhaps there is more wiggle room). If you’ve been looking - THIS IS THE ONE! Duplicate Listing #22051358.

Property Features

Property Type: Commercial -
Cooling: Electric
Heating: Forced Air
Roof Type: Asphalt, Flat, Pitched
Taxes: $26,418
Year Built: 1892

Feature Descriptions

Current Use: Other
Days on Site: 51
Electric: Ameren
Exterior: Conventional
Parcel#: 3054-00-0011-7
Parking: Other
Potential Use: Other
Road Frontage: Alley
Sewer: Public Sewer
Water: Public

Local Schools

School District: St. Louis City

Listed By / Shown By

Listed By

Agency Name: St. Louis Real Estate Society

Shown By

Agency Title: Realty Executives
Agency Phone:

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